How Germany Sparked 66% Rally In Canadian LP Stocks Last Week

A historic vote in Germany on Friday in favor of decriminalizing cannabis sparked a rally in shares of Canadian cannabis LP stocks Canopy Growth and Tilray, both of which do business in the country, which spread to other major Canadian cannabis LP stocks such as Aurora Cannabis, Cronos Group and Organigram which are all constituents in the munKNEE Canadian Cannabis LP Stocks Index.

Below is how each of the 5 constituents performed last week and how well they have performed YTD:

  1. Canopy Growth (CGC): up 149.7% last week; up 50.5% YTD 
    • The decriminalizing of cannabis in Germany last week sparked a major jump in the share price of Canopy which does business there.
  2. Aurora Cannabis (ACB): up 52.8% last week; down 1.2% YTD
    • Aurora Cannabis received the Good Manufacturing Practice (GMP) certification on March 15th from Australia's Therapeutic Goods Administration (TGA) for its Canadian production facilities, River and Ridge which will allow Aurora to broaden its product range offerings in the Australian medical cannabis market, which is rapidly expanding and estimated to be worth $400 million AUD, making it the largest medical market in the world outside of North America.
  3. Tilray Brands (TLRY): up 33.5% last week; up 0.4% YTD
    • Some analysts believe that Germany will be a key winner for Tilray’s distribution business and Tilray, itself, believes that it can double its German revenue in the next few years.
  4. Organigram Holdings (OGI): up 31.4% last week; up 107.6% YTD
  5. Cronos Group (CRON): up 24.3% last week; up 24.9% YTD 

In Summary

The munKNEE Canadian Cannabis LP Stocks Index went up 66.0% last week, and is now up 28.4% YTD.


More By This Author:

Six Of Seven AI Stock Categories Increased This Week
AI Stock Surge Stalls: All But One Category Declined Last Week
Cresco Labs Q4 Report Shows Major Improvement In Net Profit

Disclosure: None

This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed. ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.